FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

ssi_usd-chf_body_Picture_2.png, FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

USDCAD Retail forex trading crowds have increased their net-long US Dollar (ticker: USDOLLAR) position against the Canadian Dollar, and a contrarian view of crowd sentiment favors USDCAD declines.

Crowd net positioning is now at its most bullish since the pair traded below C$0.9900 in October, and such one-sided sentiment warns that the pair could continue lower.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1720.0000.00%
    N21.SI
    0.181-0.001-0.55%
    40E.SI
    0.420.00+1.20%
    5ME.SI
    2.630.000.00%
    MC0.SI
    0.115-0.006-4.96%
    40F.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.27+0.04+17.39%
    PH0.SI
    0.275+0.035+14.58%
    BLZ.SI
    0.162+0.012+8.00%
    5MQ.SI
    0.25+0.02+6.38%
    BTM.SI
    0.90+0.06+7.14%
    E16.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.34-0.10-22.73%
    AWC.SI
    0.38+0.02+5.56%
    5DO.SI
    0.375-0.095-20.21%
    BLL.SI
    0.09-0.01-11.76%
    BRR.SI
    0.585-0.065-10.00%
    BKB.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4198-0.0048-0.34%
    USDSGD=X
    1.5246+0.0026+0.17%
    EURSGD=X
    1.7659+0.0068+0.39%
    GBPSGD=X
    79.9300-0.237-0.30%
    SGDJPY=X
    5.4619+0.0229+0.42%
    SGDHKD=X
    3.1256+0.0077+0.25%
    SGDMYR=X
    9,410.6787-26.0664-0.28%
    SGDIDR=X
    4.8277+0.0068+0.14%
    SGDCNY=X
    1.0727-0.0032-0.30%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,213.40+8.50+0.71%
    GCG17.CMX
    17.13+0.10+0.58%
    SIH17.CMX
    88.68+1.12+1.28%
    ^XAU
    2.64+0.01+0.53%
    HGH17.CMX
    52.33+0.96+1.87%
    CLG17.NYM
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    TreasuryYield (%)Yield Change
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